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Bullboard - Stock Discussion Forum Starcore International Mines Ltd T.SAM

Alternate Symbol(s):  SHVLF

Starcore International Mines Ltd. is engaged in precious metals production with focus on Mexico. The Company is engaged in extracting and processing gold and silver in Mexico through the San Martin mine in Queretaro, Mexico. The San Martin mine is located about 47 about kilometers (km) in straight line, northeast of Queretaro City, Queretaro State, on local road No.100 and about 250 km... see more

TSX:SAM - Post Discussion

Starcore International Mines Ltd > Chart is setting up for a huge breakout
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Post by AlfTanner on Aug 31, 2021 8:54pm

Chart is setting up for a huge breakout

No breakout yet, but there is a strong resistance line at CA$.28 and a down trend line at CA$.29.  If we break through those 2 levels, there could be a serious rally.  The next stops will be the high of CA$.35, and then I think it is off to CA$.44.
 
The pull back from the high of CA$.35 to the May low of CA$.20 was a perfect 50% retracement.  Small stocks like this often do not follow charting rules, but this is following the rules very well.
 
A couple of other bullish signs are that the price is now above the 200, 50, and 20 DMA and there will likely be a golden cross of the 50 and 200 DMA around Sep 21.  
 
Q1 earnings should be mid Sep, and that could be a catalyst.  However, I am only expecting a very small profit based on the production numbers.
 
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